Mobile NFT real estate game Upland has become the latest to raise new capital; it’s raised $18 million at a $300 million valuation
Animoca Brands led the round, and was joined by Block.one, Alumni Ventures Blockchain Fund, and angels such as Michael Ronen, Michael Terpin, and Mike Vorhaus.
With the NFT market entering a white-hot phase, the Upland team kept going with its slow and steady approach to development.
Putting a premium on sustainability and steady development has paid dividends, it appears. Upland’s co-founder Dirk Leuth sees the game’s evolving mechanics and NFT marketplace as being major drivers of this investment.
“What sets us apart is Upland’s connection to the real world in combination with engaging game mechanics driving an almost endless number of compelling use cases for NFTs,” he stated.
Running on the EOS blockhain, Upland put its focus on operating as a mobile title. Being available for download on iOS and Android makes it more accessible. Currently Upland has around 35,000 daily active users.
puts it face-to-face with an already massive mobile gaming population, albeit at the cost of not allowing open crypto transactions due to app store revenue share rules.
However thanks to Upland’s partnership with Linden Labs’ Tilia, players can sell NFT properties for real-world money.
So far, the game has hosted over $1.5 million in player-based transactions, although this is small change compared to the hundreds of millions of dollars of trading value that more open blockchain games are attracting.